Mortgage Loan Officer - Remote
The Best Loan Officer Compensation
in the Industry - Up To 400bps
"Take your hand out of my pocket” is the ideology that lenders for decades have continuously gauged commission from their Loan Officers on each and every transaction. That stops now with Client Direct Mortgage.
Client Direct Mortgage is a technology-focused national lender, licensed in 33 states, built by top originating Loan Officers for Loan Officers that are or want to be at the top of their game.
For years we’ve observed brokers and retail lenders extract as much revenue as possible from the loan origination volume of loan officers. Many have argued that it is necessary to run a thriving mortgage lender.
We’ve built a more equitable way.
Client Direct Mortgage built a values-rich platform and cost efficiencies that allow us to give most of the commission to the Loan Officer.
Our lending platform for Mortgage Professionals includes:
Compensation: We pay you the same compensation for banking and/or brokering. You get to choose the loan based on your criteria and what’s best for your Borrower.
Flexibility: You get to have a (Banking) Lender Paid Comp Margin that you choose, typically 400bps, with concession discretion. Plus a max wholesale lender paid comp with the ability to switch to Borrower paid whenever needed.
Transparency: We provide full disclosure on how the parent company makes money. We act as a "fee for service" to support your growth.
Services: We handle payroll, lender management, technology support, intranet, licensing, warehouse lines, E&O insurance, etc. These are all a transparent fee for service, not baked into your rates.
Autonomy: We enforce one rule; 1) Be compliant. Your daily activities and those of your team are at your discretion, so long as this rule is met.
1099 vs W-2: If your State allows it, the IRS has issued additional verbiage about what is required and we provide that needed structure to enable 1099 comp. We enable multiple LOS’s, CRM’s, etc. which fall inside the “no mandate” requirement within the IRS direction.
Tech: Our primary Pricing Engine/LOS/POS/CRM is easy to use. Your database is your database. We provide a simple to use tech stack with a simple to understand cost. You are also able to plug into what you are used to using as a tech stack, to make your transition easier.
Jumbo & Super Jumbo: We provide bank like pricing and super aggressive terms for jumbo & super jumbo loans. 95% CLTV for jumbo and up to $30M for super jumbo.
DBA: You can use your own brand, logo, etc. Clients & Referral Partners care about you, not the parent company.
Leads: We provide access to proven strategies to generate, manage, & convert your own high quality leads for free.
Commission Caps: The LO commissions are not be capped. Paying up to 275bps for Brokered and up to 400bps for Banked loans.
Mentorship: Some people want this and some don’t. For that that do, it is accessible from qualified people that care.
Niche Guidelines: We have a guidelines dept that finds unique products & guidelines so you can be extra unique & valuable to your Partners & Borrowers. Currently at 100+ super niche products.
Down Payment Assistance: With home affordability being so challenging, we have a passion for providing access to National, State, & County DPA programs. We also provide access to automated scenario search results for which program will require the least amount of cash to close!
Dedicated Ops Support: When you submit loans, you will have access to your same underwriter, docs, & funder. To build your business, you deserve structure, order, & predictability. Building these internal relationships is critical.
Realtor Marketing Support: With the NAR settlement, Agents need our support more than ever. Company should have access to strategic & innovative ways to support local Realtors with unique value propositions.
Cost: We charge $1,250 per loan and cap the fees at $20,000 per year. Meaning…after 16 loans, the Loan Officer keeps 100% of their revenue for the rest of the year!
Inter-State lending: We enable each LO to lend in all States where the company is licensed. Please ask us how.
(LOS) Loan Origination Software: The back-end of our platform is built on Sales Force and we have integrated multiple LOS systems. We recommend our integration with MeridianLink but you are free to use the LOS of your choice.
Correspondent Investors: We have 20+ Correspondent Investors so leaner pricing doesn’t exist. And LO’s can bank or broker at their discretion. Check www.Eric-Mitchell.com for 24/7 access to live rates.
Free Credit Reports: Unlimited access to free tri-merge credit reports and free rapid rescoring. Zero cost for our MLO’s!
Free Credit Repair: Unlimited free credit repair for Borrowers. No added work for the Loan Officers.
EPO Protection: Zero commission charge back for early payoffs - 100% EPO Protection!
Rate Locks: 24hr rate locks and weekend rate lock protection – plus free rate lock extensions!
TBD U/W: We encourage this as standard practice with full loan approvals (subject to property) prior to purchase contract. Contract to funding enabled at 10-12 days with no need for a loan contingency!
Tech Stack: Our award winning tech stack is $79/mo, total cost. This includes the fully integrated LOS, POS, CRM, Pricing Engine, & Intranet.
Deal Desk: We provide access to a free deal desk to call and brainstorm file solutions with an underwriter prior to loan submission.
Licensing: We provide free licensing support for LO’s to get multi-state licensed.
Training Events: We have seven 2-day training events per year. We invest in our LO’s with complimentary flights, hotel, & meals! Marketing, u/w guidelines, technology innovations, selling strategies, & more!
Condo Docs Not Needed: Conv & Gov’t loans for condos with no need for condo docs. No pricing adjustment and no condo questionnaire needed.
Medical Benefits: For both W-2 & 1099, we provide access to health & medical benefits. Our people matter!
Payday: Payroll is every Friday. It’s critically important for us to pay our team members timely & accurately.
Web-Page: We provide a complimentary web-page for your Borrowers to apply with you.
Onboarding: We onboard new team members every Monday & train every Tuesday. This allows us to grow quickly while maintaining efficient scalability.
Student Debt Relief: We provide access to student debt relief so your Borrowers may qualify for more!
Digital Presence: We assist and provide access to strategic tools that boost your digital presence & generate more leads for you! Competitive Rates: Please check our posted consumer rates accessible at www.Eric-Mitchell.com – please compare specific scenarios with rates you offer.
Dual Licensing: We allow dual licensing (Mortgage + Real Estate) – and we even enable our seasoned Mortgage Professionals to hire Agents for Business Development roles. Please ask us how this works…game changer!
Comradery: We have an internal Loan Officer chat group on Microsoft Teams to nurture open brainstorming. A rising tide raises all boats!
Processing: We allow three options; 1) In-House Processors are available, 2) You can outsource to a 3rd party Processing company, 3) You can hire your own Processor. You have the freedom to choose which is best for you.
Marketing Support: We provide access to a hundreds customizable flyers, images, and presentations. Each can be branded with your information, co-branded with your referral partners, and Spanish materials are also available.
Banking vs Brokering: One is not better than the other and both create value. This is why we provide both options to you and you have the freedom of choice for every loan!
Notifications: Your Borrower(s) and Referral Partners are always kept in the loop with automated loan status notifications. Your time is more valuable than dealing with inbound status requests.
(RON) Remote Online Notarization: We provide access to RON for your closings. The closing appointment can happen remotely via audiovisual technology as the entire loan package may be electronically signed & notarized. Certain State restrictions apply.
Mission: Our #1 job is to protect the confidence of our Loan Officers! We attract exceptional people & then provide the highest support levels in the industry!
But, we take it to the next level with an annual Company Commission Cap and the best Loan Officer Package in the Industry.
Company Commission Cap
Each year, the company commission caps out at $20,000. Once the Loan Officer meets that annual company compensation cap, the remaining compensation earned goes directly to the Loan Officer for the rest of the year.
Finally, an individual Loan Officer (or team) can offer pricing AND receive compensation as if they owned a brokerage.
This has never been done before in the mortgage industry.
Most lenders take an average of 50bps+ from all loan origination volume after giving you your compensation on an ongoing basis. If you generate $20 million in loan originations annually, that’s $100,000 going back to your company. At Client Direct Mortgage, we only take the first $20,000—the remaining $80,000 goes back to you.
The Best Loan Officer Package
The ability to cap out and take home 2x your current compensation doesn’t mean you are sacrificing leads, technology, and support.
We’ve spent ten years building our 360-degree package, which includes the following:
- Purchase and Refinance Leads
- Realtor Leads
- All-in-One Integrated Platform built on Salesforce
- Loan Origination System powered by MeridianLink
- Product Pricing Engine integrated into Salesforce
- Full-Service Processing with an option to leverage Contract Processors
- Integrated email and productivity apps powered by Office 365
- Optional Coaching and Training
- Knowledge Base Intranet
- Daily Live Support
- Mortgage Toolkit and Website Provided
- Self-generated Custom Marketing Materials for Borrowers and Realtors powered by IOS Express